Tom Lee: Chip sell-off primarily driven by positioning ahead of SpaceX IPO On June 10, 2026, Fundstrat Managing Partner Tom Lee discussed r…
Tom Lee: Chip sell-off primarily driven by positioning ahead of SpaceX IPO
On June 10, 2026, Fundstrat Managing Partner Tom Lee discussed recent equity market movements in a CNBC interview. He states that the ongoing sell‑off in chip stocks is primarily driven by institutional funds liquidating recent winners to raise cash for the upcoming $75 billion SpaceX IPO. He believes this is a healthy consolidation and the sector’s charts are not completely broken.
As a contrarian, Lee leans against the skepticism that the SpaceX debut marks a market top, arguing that the dip will be bought and the strong tech‑led uptrend will continue. Looking ahead, he views 2026 as an overall positive year, though he anticipates a potential pullback later driven by the market testing new Fed Chair Kevin Warsh, IPO lockup expirations, and looming energy shortages.